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The center, which will cover an estimated gross floor area of 380,000 square meters, is expected to handle tens of millions of cross-border e-commerce parcels after it opens in 2023.

The cities of Buffalo and Rochester, N.Y., are joining forces as one economic corridor in hopes of convincing Amazon that the region is a worthwhile contender for HQ2, the proposed second headquarters for the Seattle-based tech giant.

The center, part of the company's Blackmores Institute, is expected to open within the next 12 months and will be developing products exclusively for the Chinese market, the Sydney-headquartered company said.

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The ceremony was jointly attended by Xi and Nguyen Thi Kim Ngan, chairwoman of National Assembly of Vietnam. Xi gave a "golden key "to the project to the chairwoman as a symbol of finishing the construction and transferring the project to the Vietnam.

The central bank will make policies more forward-looking, flexible and effective, maintain proper control over the floodgate of money supply and keep liquidity at a reasonable and abundant level, according to the bank's second-quarter report.

The central bank report underlined that monetary policy, in tandem with changes to economic fundamentals and the need for deleveraging, preventing bubbles and eliminating risks, has yielded good results such as the moderate liquidity, reasonable growth of credit and social financing, modest interest rates and stable exchange rates.

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The city has also worked with Ant Financial to develop a system to evaluate the financial credibility of small and medium-sized companies.

The chipmakers' merger would face stern scrutiny according to analysts, as a combined Broadcom-Qualcomm would turn out to be the world's dominant supplier of chips, a 0-billion-plus behemoth that might have a much bigger say in price negotiation than other players.

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The city has so far implemented more than 2,000 R&D projects above provincial level and filed over 10,000 patent applications.

The central parity rate of the yuan strengthened 305 pips to 6.7796 against the US dollar Friday, according to the China Foreign Exchange Trade System.